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Rupee falls to 94.81 against US Dollar as UAE OPEC exit sparks oil supply fears
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Rupee falls to 94.81 against US Dollar as UAE OPEC exit sparks oil supply fears

The Indian Express·Express Web Desk·about 1 month ago
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Global oil benchmark Brent crude was marginally lower, down 0.21 per cent at $111.03 per barrel in futures trade. The rupee slipped 13 paise to 94.81 against the US dollar in early trade on Wednesday, weighed down by rising global crude oil prices. ARTICLE CONTINUES BELOW VIDEO At the interbank foreign exchange market, the rupee opened at 94.79 against the dollar and weakened further to 94.81 in early deals, marking a 13 paise decline from its previous close of 94.68 on Tuesday, when it had already fallen by 53 paise. Global oil benchmark Brent crude was marginally lower, down 0.21 per cent at $111.03 per barrel in futures trade. Meanwhile, the United Arab Emirates’ decision to exit OPEC from May 1 has added to uncertainty around global oil supply. On the domestic equities front, benchmark indices opened higher, with the Sensex rising 358.92 points to 77,245.83 and the Nifty gaining 101.2 points to 24,096.90.…

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